Usually a mortgage loan will cover less than the price value of the
property concerned. In addition to a mortgage loan, a deposit
(typically at least 5% to 10% of the purchase price) is required.
If you are already a property owner, finding this deposit will
probably not be a problem. If you are a first time buyer,
raising a deposit of just 5% of the price of a property may seem
impossible. Especially as you will also need money to furnish your
new home and cover the legal and other costs of purchasing a
property.

Some
companies are able to help by providing Low
Deposit or No Deposit Mortgages
(also called 100% Mortgages). You
may event be able to find mortgage lenders who are able to provide
more than 100% of the purchase price.

Typically with any Low Deposit Mortgage you will be charged a higher
interest rate to reflect the lender's increased risk (they may not
be able to recover the full value of any loan from a sale of the
property). You may also be required to take out some form of
mortgage payment protection insurance.

Compare online quotes to get up to date information on the current
deals available and their specific terms and conditions.
Mortgage calculators allow you
to work out what a specific mortgage will cost you. may be made
online but seek independent advice before making any final
commitments.

Remember, a mortgage is security for a loan in the form
of the provision of a right in property, such as land or buildings.
Typically, if terms of the loan are
not met, then the lender has the right to sell the property to
recover the debt.

YOUR HOME MAY BE
REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.